Megaport announces IPO

Megaport announces IPO

Megaport has lodged a prospectus with the Australian Securities Commission (ASIC) to raise capital for an expansion into North America and Western Europe, and has also applied to list on the Australian Securities Exchange (ASX).

Megaport commenced operations in January 2014 and has a presence in 34 data centres across six markets in Australia, New Zealand, Singapore and Hong Kong.

“To achieve our vision we plan to extend the platform deeper into existing markets and expands into new markets, particularly key markets within North America, Europe and Asia,” said Denver Maddux, Megaport CEO.

“The capital raising under the IPO helps the business accelerate those plans.”

With an AUD$1.25 offer price, Megaport will have a market capitalisation of AUD$87.5 million upon completion.

In 2016, Megaport plans to expands into 45 data centres, including those in New York, Los Angeles, Dallas, Seattle, San Francisco Bay Area, Toronto, London, Dublin

 “This is a tremendously exciting time for Megaport as I believe we are at the centre of a revolution brought about by the rise of software defined networking and cloud computing,” Maddux said.

“We have built a great platform and a great team and I look forward to expanding the Megaport platform into North America and Europe, as well as further into our existing markets in the Asia Pacific region.”

In June this year, Megaport’s infrastructure arm Superloop listed on the ASX.